Canadian Financial Close: Loonie up as U.S. dollar weakens

Glacier FarmMedia | MarketsFarm – The Canadian dollar closed above the 73 United States cent mark for the first time in a week.

The loonie ended Monday at US$0.7303 or US$1=C$1.3693, compared to US$0.7289 or US$1=C$1.3720 on Friday.

The U.S. Dollar Index fell 0.64 of a point at 97.84 as markets became wary of President Donald Trump’s proposed tariffs on goods from other countries.

Crude oil prices eased off as European Union sanctions on Russian oil seemed to have little effect. West Texas Intermediate dipped US$0.34 per barrel at US$67.00. Brent crude oil dropped US$0.29/barrel at US$68.99.

The TSX/S&P Composite Index added 2.99 points to close at 27,317.00.

Gold surged US$51.90 per ounce at $3,410.20.